Journal of Economic Studies: Volume 51 Issue 3

Unpacking the dynamics of military spending in a globalized world: economic impacts with a network GVAR model

Claire Economidou, Dimitris Karamanis, Alexandra Kechrinioti, Konstantinos N. Konstantakis, Panayotis G. Michaelides

In this work, the authors analyze the dynamic interdependencies between military expenditures and the real economy for the period 1970–2018, and the authors' approach allows for…

From pandemic to war: dynamics of volatility spillover between BRICS exchange and stock markets

Mohit Kumar

To estimate the volatility of exchange and stock markets and examine its spillover within and across the member countries of BRICS during COVID-19 and the conflict between Russia…

The dance of dependence: a macro-perspective on financial instability and its complex influence on the Euro-American green markets

Brahim Gaies, Najeh Chaâbane

This study adopts a new macro-perspective to explore the complex and dynamic links between financial instability and the Euro-American green equity market. Its primary focus and…

Asymmetric causality between Bitcoin and tech stocks in the US market using mixed frequency data

Abbas Valadkhani

This study is the first to investigate the causal relationship between Bitcoin and equity price returns by sectors. Previous studies have focused on aggregated indices such as…

Monetary policy and nonperforming loan ratios in a monetary union; a counterfactual study

Ayuba Napari, Rasim Ozcan, Asad Ul Islam Khan

For close to two decades, the West African Monetary Zone (WAMZ) has been preparing to launch a second monetary union within the ECOWAS region. This study aims to determine the…

Effect of military service on fertility: evidence from the 2001 draft suspension in Spain

Stefani Milovanska-Farrington

Many European countries suspended mandatory conscription after the Cold War, and especially between 2000 and 2010. However, with the changing security situation in Europe, more…

Asymmetric effects of monetary policy on non-bank financial intermediation (NBFI) assets: a panel quantile regression approach

Mugabil Isayev, Farid Irani, Amirreza Attarzadeh

The purpose of this paper is to fill the momentous gap by explicitly investigating the asymmetric effects of monetary policy (MP) on non-bank financial intermediation (NBFI…

Has the heterogeneity of culture, investor sentiment and uncertainty altered bank stock returns in the MENA region?

Syed Faisal Shah

This paper has analysed the impact of cultural dimensions, investor sentiment and uncertainty on bank stock returns. Also, the study examined the influences of the interaction…

The non-linear impact of financial development on income inequality: evidence from dynamic panel threshold model

Shobhana Sikhawal

This study examines the non-linear impact of financial development on income inequality and analyses the mediators through which financial development affects income inequality.

The effect of NPLs management in the PIIGS banking efficiency: an approach using non-parametric partial order-m frontiers

Emmanouil G. Chalampalakis, Ioannis Dokas, Eleftherios Spyromitros

This study focuses on the banking systems evaluation in Portugal, Italy, Ireland, Greece and Spain (known as the PIIGS) during the financial and post-financial crisis period from…

Climate change and agricultural productivity in Asian and Pacific countries: how does research and development matter?

Cong Minh Huynh

This study empirically examines the impact of climate change and agricultural research and development (R&D) as well as their interaction on agricultural productivity in 12…